ITC, the fast moving consumer goods (FMCG) major, has become the country’s second most-valued company with market capitalisation (m-cap) of over Rs 2.40-lakh crore, surpassing Tata Group’s software services company - Tata Consultancy Services (TCS).
ITC commanded a market value of Rs 240,462 crore — the second highest for any listed company in India. This is Rs 881 crore more than TCS market value of Rs 239,581 crore at 1456 hours.
ITC stock is trading higher by 1% at Rs 306, also its record high, pushing the company to the second position in the domestic market valuation chart. In comparison, TCS is trading 0.29% higher at Rs 1,224 on the BSE, which slipped 7% in past six trading sessions on fears of lower revenue growth in next year.
Meanwhile, ITC is the most influential stock in the BSE Sensex with a weightage of 10.16%, while Reliance Industries has 8.86%, followed by HDFC which commanded a weight of 8.16% on the 30-share index. TCS has weightage of 4.35%, BSE data shows.
